§ Brian WhiteTo ask the Chancellor of the Exchequer what actions are available to consumers when the FSA and PIA Ombudsman bureau do not take action on their individual grievance. [69315]
§ Ruth KellyFirms that have been authorised by the FSA are required to have their own internal complaints arrangements for their customers. Where a firm is unable to resolve a complaint itself, the customer can pursue the complaint with the Financial Ombudsman Service, which replaced the PIA Ombudsman Bureau on 1 December 2001. An ombudsman's decision is binding on the firm if the customer accepts it. If the FOS is not able to resolve the complaint to the customer's satisfaction, this does not affect the customer's legal rights to go to court.